Mineable crypto currencies

Cryptocurrency mining refers to the process whereby new cryptocurrency digital coins are created when a miner successfully verifies a cryptocurrency transaction and adds it to a public ledger within the cryptocurrency network. One needs access to the internet and suitable hardware to perform this process.

The total number of mined Bitcoins so far is 16.5 million, according to Steemit and 4.5 million coins are yet to be mined. Mining cryptocurrencies such as Bitcoin is becoming hard every day as the number of block rewards continues to reduce. In future, small scale miners will be at a disadvantage as the costs of mining will be high. Large scale miners will benefit from economies of scale. Mining difficulty and a reduction in block rewards will increase the prices of minable crypto currencies.

Cryptocurrencies that can not be mined

Non-mineable cryptocurrencies are purchased instead of being mined. With non-mineable cryptocurrencies, one needs to buy the coins and earn interest by holding the coins in the wallet. The more coins you hold, the higher your interest rate. Most of these crypto currencies will have a circulating supply; these are coins that are already in wallets.

Total supply; this is interest in terms of coins that are yet to be paid out in the future for those hoarding coins as well as the total supply which is the maximum amount of coins that will ever be supplied. Holders of these currencies will also benefit when their prices rise.

The best cryptocurrency for speculators

As the first cryptocurrency was created to establish a digital coin that operates outside the banking industry, cryptocurrencies such as Bitcoin that are mostly accepted by merchants are likely to increase in price as the number of users using the coins will rise. It will be impossible for merchants to accept all crypto currencies as their mode of payment as there are thousands of cryptocurrencies in the cryptocurrency market.

Cryptocurrencies such as Bitcoin/Bitcoin Cash, Litecoin, and Ethereum are likely to increase in price as most merchants accept them as they dominate the market. Bitcoin commands 46 percent of the cryptocurrency market by #Market Capitalization while Ethereum commands 20 percent of market capitalization.

The price of non-mineable cryptocurrencies might decrease once the rewards given out to hoarders have been depleted. Once all the awards have been given out, it would be unprofitable and irrelevant to hold such coins.

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